Section 2(29) of the Companies Act, 2013 defines and declares what "court" means. For different purposes, different courts are the relevant courts. Elaborate this statement.
CS Professional · Resolution of Corporate Disputes, Non-Compliances & Remedies · PYQS · June 2021
Section 2(29) of the Companies Act, 2013 defines and declares what "court" means. For different purposes, different courts are the relevant courts. Elaborate this statement.
Answer & Explanation:
Answer 4(d) Yes, it is true to say that Section 2(29) of the Companies Act, 2013 defines and declares what "court" means. For different purposes, different courts are the relevant courts. High Court Section 2(29)(i) states that Court means the High Court having jurisdiction in relation to the place at which the registered office of the company concerned is situate, except to the extent to which jurisdiction has been conferred on any district court or district courts subordinate to that High Court under sub-clause (ii). District court Section 2(29)(ii) states Court means the district court, in cases where the Central Government has, by notification, empowered any district court to exercise all or any of the jurisdictions conferred upon the High Court, within the scope of its jurisdiction in respect of a company whose registered office is situate in the district. Further, with specific reference to offences under the Companies Act, 2013, section 2(29) states as under: Section 2(29)(iii) states that Court means the Court of Session having jurisdiction to try any offence under this Act or under any previous company law; Section 2(29)(iv) states that Court means the Special Court established under section 435; Section 2(29)(v) states that Court means any Metropolitan Magistrate or a Judicial Magistrate of the First Class having jurisdiction to try any offence under this Act or under any previous company law; Thus, for the purpose of trying offences under the Companies Act, 2013 or as the case may be for offences arising under the Companies Act, 1956, there are only three courts - viz., the Court of Session; the Special Court if established or designated by Central Government under section 435 of the Companies Act, 2013 and the Court of the Metropolitan Magistrate or a Judicial Magistrate of the First Class having jurisdiction to try any offence under the Companies Act, 2013 or any previous company law.
Topics: Companies Act, 2013
Related Questions in this Topic
- An investigation has been initiated against Terla Mart Private Ltd under section 210 of the Companies Act, 2013. Mohana,...
- Niruthan and Vanithan, were two close friends and IITians. They had founded a company together called Valuin Technologie...
- 'Class action suit is a new mechanism in India to claim the loss caused to the specified stakeholders of the Company, no...
- Jeyan, filed an application before Usurla Ltd, for transmission of equity shares held by his father. Jeyan provided the ...
- Amin, Director of Tituto Ltd was penalized by Regional Director (RD) for an offence committed by him under the Companies...